Taiwanese aquaculture developer Nocera uplists stock, raises $7M in US IPO

Aug. 11, 2022 1:57 PM ETNCRABy: Val Kennedy, SA News Editor

Initial public offering hologram, night panoramic city view of Bangkok. The financial center for multinational corporations in Asia. The concept of boosting the growth by IPO process. Double exposure.

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Taiwanese aquaculture developer Nocera (OTC:NCRA) uplisted its shares to Nasdaq and held a $6.6M initial public offering on Thursday.

Shares of Nocera opened at $2.26, hitting a low of $2.07 in early trading before climbing to a high of $3 in late morning. The stock recently changed hands at $2.60 at approximately 1:35 p.m. ET.

Nocera also conducted a 2-for-3 reverse stock split ahead of the uplisting. The stock closed at $5.18 on Wednesday, the last session before the split took effect. Prior to Thursday, the stock was traded OTC.

The sustainable seafood company, which has developed a land-based aquaculture system, offered 1.9M units at $3.50 per unit, raising $6.6M. Each unit consisted of one share plus two warrants to buy two shares at $3.85 per share. Underwriters were granted a 45-day option to buy up to 282K additional units.

For more IPO news, check out SA’s IPO News page.

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